“I wish to also recognize Brian Bentz, Peter Gregg and Max Cananzi. These corporate leaders have extensive professional management experience. I am confident Alectra, and the ratepayers of Mississauga, are in very capable hands.

“The journey to form Alectra first began in April of 2015.

“I am pleased that Mississauga Council saw the benefits of the proposed merger. We were early adopters and were the first Council to endorse the proposal. This helped pave the way to success.

“For all of us involved in this effort, our mission has always been clear: work together to form a new utility company that will provide the residents and businesses of all 15 communities with cost savings, new efficiencies, improved customer service, along with safer, reliable and clean energy.

“The creation of Alectra will result in residential customers saving an average of $40 dollars per year on their energy bills, as merger efficiencies are achieved over the next 10 years.

“Mississauga is projected to receive $600 million in dividends over the next 25 years from Alectra. The funds will go toward our city-building priorities.